Savings accounts could help with 'financial calendars'

Friday 28 January 2011

Article by Mozo

Australian households have been advised to draw up a "financial calendar" for managing their spending throughout the year.

Savings accounts could help with 'financial calendars'

AMP financial planner Wendy Scarlett suggested that the "back to school blues" that emerge at this time of year can be made worse if parents have not chosen to compare savings accounts and put money aside for the year ahead.

"Unless parents plan ahead and start saving early, their kids run the risk of being all dressed up with nowhere to go when it's time to start school," she told the Tweed Daily News.

"Some simple habits like budgeting and planning – and good financial advice – can help parents manage these commitments better."

Elsewhere, Ms Scarlett identified March as being a good point in the financial calendar to start planning a tax return, particularly as many people leave it until the last minute in June and then find it is too late to get everything organised.

June, meanwhile, was highlighted as being a good time to re-evaluate superannuation while it was suggested that households should look to consolidate credit card debt in December to account for higher festive spending.

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